---

Judgement or Lien by Unsecured Creditor

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
flowerz1955 Joined: 16 Sep 2009 Posts: 2 1.64 Dollars($)	Posted: Wed Sep 16, 2009 10:21 pm    Post subject: Judgement or Lien by Unsecured Creditor Like 0 Dislike 0 What time frame does a creditor or collection agency have to file a judgement or lien on real property? Is it different by State or County? If one is filed, how long is the lien or judgement good for?
adonis Joined: 22 Oct 2005 Posts: 10250 Location: ALASKA 1043.57 Dollars($)	Posted: Thu Sep 17, 2009 1:22 am    Post subject: Like 0 Dislike 0 Hi flowerz, The lender can file a judgment or lien on the property immediately after it forecloses the property. I don't think it's much different by state. However, the statute of limitation (SOL) period may vary from state to state. It is the maximum period of time, after certain events, that legal proceedings can be initiated based on those events. _________________ Procrastination is the enemy of your financial success
jheard Moderator Joined: 12 Dec 2007 Posts: 734 Location: Houston, TX 116.72 Dollars($)	Posted: Fri Sep 18, 2009 7:28 am    Post subject: Like 0 Dislike 0 To file a judgment, they have to sue you first within the statute of limitations period. If they have a judgment, they are usually good for 10 years, but can be renewed. They can record an Abstract of Judgment, which acts as a lien on real property, at any time after they receive the judgment. _________________ Disclaimer: This is not legal advice and I am not your lawyer. The information provided in this forum is for discussion purposes only, and is no substitute for an in-person consultation with an attorney who can analyze all of the facts and determine how your state and local laws may apply to your specific situation.
Dreamer Guest	Posted: Wed Mar 30, 2011 8:58 pm    Post subject: Unsecure loan judgment Like 0 Dislike 0 What can occur after a judgment is against you on an unsecure loan for less than $5000 and how long will it stay on your credit if not paid?
smithsussane Joined: 18 Sep 2008 Posts: 10030 Location: Alaska 919.49 Dollars($)	Posted: Wed Mar 30, 2011 11:51 pm    Post subject: Like 0 Dislike 0 Hi Dreamer! Welcome to forums! Any negative item will remain in your credit report for 7 years. It will be better if you could pay off the unsecured debt as per the judgment that you've received. Feel free to ask if you've further queries. Sussane
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12346 Location: bloomfield, ct 53.01 Dollars($)	Posted: Fri Apr 01, 2011 11:54 am    Post subject: Like 0 Dislike 0 Dreamer, if you have a judgment against you and you fail to meet the terms of that judgment, the creditor can go back into court and seek an execution against property that you own - that could be real estate, deposit accounts and, of course a wage execution as well. Not all at the same time, of course, but whatever will get them their money is the approach they'll take, I'm sure. _________________ George M. Akerley Independent Contractor - Mortgage Consultant Word of Excellence Editing/Writing/Proofreading 860-221-5044

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0